03.08.202604:06:51UTC+00Palm Oil Edges Up on Stronger Exports, India Demand Hopes

Malaysian palm oil futures edged higher to around MYR 4,650 per tonne, rebounding from recent lows on the back of a weaker ringgit and firmer rival edible oils on the Dalian and Chicago exchanges. Sentiment was further supported by stronger export prospects, after cargo surveyors estimated that Malaysian palm oil shipments in July rose between 12.1% and 19.5% from the same period in June.

Prices also found support from higher biodiesel blending mandates in Indonesia and Malaysia, weather-related risks to Malaysia’s palm oil output heading into 2027, and expectations of stronger imports by the world’s largest buyer, India, between July and October ahead of the festive season. In China, another key importer, the central bank’s pledge to maintain ample liquidity following last week’s Politburo meeting bolstered hopes for improved demand.

Nonetheless, upside remained capped as Dalian palm olein prices softened and crude oil retreated, after U.S. President Trump held back from launching a new attack on Iran.